prices

If prices keep rising, a nightmare scenario for the US economy is a real possibility

That’s the textbook definition of stagflation, and it would be the worst nightmare for consumers, investors and the Federal Reserve. Not to mention President Joe Biden and the rest of the Democratic leadership in Washington. Just ask former president Jimmy Carter, who lost to Ronald Reagan in his 1980 re-election bid as the economy suffered from surging gas prices.

Stagflation is a difficult problem to overcome, especially for central bankers at the Fed and around the rest of the world. There are few tools to combat both inflation and a slowdown at the same time. The strongest fix … Read More

Economy Week Ahead: Home Prices, Unemployment Claims

Tuesday

The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, is expected to decelerate for the year ended in October, but still remain historically elevated. Economists surveyed by The Wall Street Journal estimate that the 20-city Case-Shiller index rose by 18.6% in the year ended in October, down from the 19.1% annual rate the month prior.

A limited supply of homes coupled with robust home-buying demand has contributed to some buyers being pushed out of the market—a trend that has persisted throughout the year in hot real-estate markets

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Inflation: Nigeria consumer prices fall for 7th month straight | Business and Economy News

Falling food prices led the move lower in Nigeria’s headline inflation rate.

Nigeria continues to buck the global trend of rising prices, with consumer prices ticking lower for the seventh month running, government figures showed on Monday.

Nigeria’s inflation rate fell to 15.99 percent in October compared with the same period last year, and was 0.64 percent lower than September’s annualised reading, the country’s National Statistics office said.

The drop in the headline rate was driven by easing annual food inflation, with prices falling from 19.5 percent in September to 18.3 percent in October.

“Domestic factors appear to be behind

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Inflation: US consumer prices surge at fastest rate in 30 years | Business and Economy News

American consumers shelled out a lot more for basic essentials last month like food, fuel, and shelter, as inflation in the world’s largest economy continues to surge.

How much higher will prices climb?

For months now, blistering inflation has been a hallmark of this year’s global economic rebound from last year’s COVID-19 blow. And in the United States – the world’s largest economy – price pressures continue to accelerate at a pace not seen for three decades.

US consumer prices jumped a blistering 6.2 percent in October from the same period a year ago, the US Department of Labor said

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Oil Prices Down Over China’s Economy, Output Rise Concerns

Oil prices were down by more than $1 yesterday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from Organisation of Petroleum Exporting Countries, (OPEC) producers.

Brent crude oil futures skidded $1.12, or 1.5 per cent to $74.29 a barrel while US West Texas Intermediate (WTI) crude futures dropped 97 cents, or 1.3 per cent to $72.98 a barrel after slipping to a session low of $72.87.

“China’s been leading economic recovery in Asia and if the pullback deepens,

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Why currency crisis, economy worsen despite high oil prices | The Guardian Nigeria News

• 2020 fiscal deficit stands at N6.6tr as debt hits N33.1tr
• ‘FX rate may hit N700/$ before next year’
• Political industry (2023) to add more pressure, says Opeoluwa
• Naira can’t be stable without market transparency, says ex-CBN director
• Reps urges halt in free fall of naira value to dollar, other currencies

Except extraordinary measures are taken to salvage the naira, experts have warned that economy could reach the cliff sooner than expected.

The warning comes as structural challenges, coupled with transient measures ranging from insecurity, mono foreign earnings, insatiable borrowings, declining foreign investment inflows, rising capital

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The Washington PostRecovery’s stumbles leave Americans confronting unfamiliar inflation riskWidespread shortages and production snags are driving prices higher for many everyday items, as an uneven economic reopening leaves …16 hours ago

The Washington PostRecovery’s stumbles leave Americans confronting unfamiliar inflation riskWidespread shortages and production snags are driving prices higher for
many everyday items, as an uneven economic reopening leaves …16 hours ago… Read More